Overdraft Refunds: What Your Bank Doesn't Want You to Know

We've all been there before. Some months, we just fall short on our budgets and see ourselves in the red in our bank accounts. Every day, I am faced with people wanting to get overdraft refunds. Let me tell you a few tips on how you can maximize your chances of getting some (or all!) of your overdraft fees refunded.

Call your bank and talk with a manager.

Normally there are two managers in each branch office of a bank. Both managers should have the capabilities to be able to refund fees for customers if they choose to do so.

Calmly and respectfully explain to the manager what happened to your account.

They hear sob stories all day about how "I'm not going to be able to put food on the table!" or "My child won't be able to go on this field trip now!". Let them know what happened, admit it's your fault, and ask for some leeway this one time. You've also got a better chance of getting a refund if this isn't your 54345 time.

Let them know you are keeping a check register and recording all your purchases that you make, both with your debit card and checks.

Nothing aggravates managers more than people who aren't keeping their own records of what is clearing their account. It is not the bank's responsibility to keep up your checking account. Also, don't go by the ATM or online banking balances. Those don't reflect any checks you have outstanding and any debit card purchases that may not have hit your account yet.

Ask for a little understanding and compassion.

Normally people who ask for help are going to receive it. If you are the kind of person that calls and says "Do you think that you may be able to refund a few of these fees for me just this one time? I would really appreciate it?", you are going to get a lot further than the person who calls saying "I'm not paying for these charges! You need to refund these right away!". Guess what? You've already paid for the charges. Not bringing your account to a positive balance doesn't make the charges magically go away. You are still responsible for the charges. You get a lot more flies with honey than you do vinegar.

These are just some tips to help you if you are ever in this situation. Just use common sense, and above all, be calm, courteous, and respectful. It will go a long way.